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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Kia sell their 500,000th car in the UK – a cee’d ‘4’ 1.6 CRDi

Dale & Amy Pollard receive the keys to Kia’s 500,000th UK car Kia arrived in the UK in 1991 as a seller of budget cars, but in recent years Kia, along with sister company Hyundai, has moved very much in to the mainstream, with a range of credible cars that now sell on merit, not just price. That turn round for Kia has seen sales rising strongly to the point where they have now sold 5000,000 Kias since the marque first arrived in the UK. The milestone car is a cee’d ‘4’ 1.6 CRDi and has been delivered to a married couple in Leicester - Dale and Amy Pollard – who got a bit of special treatment from their Kia dealers - Kia Sandicliffe – at a handover ceremony attended by Stuart Wardle from Kia and Sandicliffe’s John Marsh.

Tax disc to be scrapped after 93 years

David Cole | REX Features Tax discs are to be axed, chancellor George Osborne has announced in his 2013 Autumn Statement. But motorists will still pay an annual Vehicle Excise Duty (VED / road tax) fee. The round paper certificates we all currently display in our car windows have served as proof of this road tax payment since 1921.